How are Technological Innovations Driving Human Enhancement Market?

P&S Intelligence published a new research report, titled, "Human Enhancement Market: Global Industry Analysis and Forecast till 2030, There was a time when imaging that a person with disability, including the inability to hear, see, and walk properly, had no option but to live with their existing condition. However, technological advancements have changed the scenario and further have the potential to essentially cure such conditions. The innovations that are occurring in therapeutic and restorative context have the capability to be applied in other contexts and treat non-pathological conditions. Various pharmaceutical products and technologies developed for medical purposes are already being utilized by humans for enhancing some aspect of their bodies.

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The human enhancement technology refers to basically any attempt made for overcoming the current limitations of the human body, permanently or temporarily, through artificial or natural means. It can also be defined as the utilization of technological means for selecting or altering human capacities and characteristics. Technologies such as biotechnology, nanotechnology, cognitive science, and nanotechnology are being used for improving human performance. Owing to these benefits of the technology, the human enhancement market is set to attain a value of $271.6 billion in 2030, rising from the generated revenue of $64.8 billion in 2019, advancing at a 14.7% CAGR during the forecast period (2020–2030).

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The different technologies included under the concept of human enhancement are smart devices, exoskeletons, implants, and medical devices. Among these, the largest demand in the 2019 was created for implants, which can be ascribed to the growing prevalence of chronic diseases and neurological disorders and increasing geriatric population. The requirement for active implants is growing because of the rising aging population and passive implants are being utilized for the younger population suffering from bone injuries.

This market research report provides a comprehensive overview of the human enhancement market

• Future potential of the market through its forecast for the period 2020– 2030
• Major factors driving the market and their impact during the short, medium, and long terms
• Market restraints and their impact during the short, medium, and long terms
• Recent trends and evolving opportunities for the market participants
• Historical and the present size of the market segments and understand their comparative future potential

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3D Printing Market to Reach $31.8 Million by 2023

When the industrial revolution started in the latter half of the 18th century, it revolutionized the manufacturing processes for different products. What was before being done with the bare but skilled hands of people, now could be done on a larger scale and with much more efficiency, all due to the emergence of a number of machines.

The manufacturing process made use of subtractive or formative techniques for making different products. While these methods may have been efficient in the past, these days the need for producing products in as much less time as possible has increased significantly, owing to the surging population and changing customer preferences.

As per a P&S Intelligence report, in 2017, the global 3D printing market generated a revenue of $8.5 billion and is expected to attain a value of $31.8 million by 2023, progressing at a 24.6% CAGR during the forecast period (2018–2023).

Therefore, after subtractive manufacturing 3D printing technique, also known as additive manufacturing, was developed. Under this technique, physical objects are manufactured by depositing materials in layers based on the basis of a digital model. Since the utilization of 3D printing instead of conventional manufacturing techniques yields better results in less time and without wastage, its demand is rising rapidly across the globe.

The different components which utilized in the 3D printing process are software, printer, service, and material. These components are used in various kinds of 3D printing processes such as material jetting, material extrusion, vat photopolymerization, sheet lamination, direct energy deposition, binder jetting, and powder bed fusion.

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Because of the ability of powder bed fusion to manufacture complex shapes in different industries including architecture & construction, aerospace & defense, and automotive, its demand was the highest in the past. 

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COVID-19 impact analysis on European Advanced Driver-Assistance Systems Market. Insights on strategies of key players

The need for enhanced security and safety features in vehicles is rising now more than ever, since the number of vehicles on roads has increased considerably all across the globe including Europe. Automobile manufacturers have been working tirelessly on integrating different safety features in vehicles which may improve the driving experience for people. One of the major technological advancements that have happened regarding the same is the development of advanced driver assistance systems (ADAS), which is basically a number of features and functions that a vehicle is equipped with in order to enhance the safety of both the driver and pedestrians.

These systems can aid in reducing the severity and the total number of motor vehicle accidents on roads. ADAS has the capability to warn drivers of potential dangers, intervene for helping the driver to remain in control for preventing an accident, and further reducing the severity of an accident if it cannot be prevented. At the present time, ADAS, having been undergone a number of technological enhancements, is integrated with various features for making the driving experience as smooth as possible. The technology is widely being integrated in vehicles to ensure that the number of accidents on roads is lessened.

Because of these factors, the European ADAS market is predicted to grow at a substantial pace in the years to come. ADAS can be integrated in passenger cars, medium and heavy commercial vehicles, and light commercial vehicles. A number of sensors are included in ADAS such as laser sensor, light detection and ranging sensor (LiDAR), ultrasonic sensor, image sensor, infrared sensor, and radar sensor. Among all these, radar sensors are expected to the most in demand in the near future. Along with this, LiDAR sensors are also projected to be in considerable demand in the coming years owing to innovations in the automotive industry and government regulations for vehicle safety.

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In 2019, the major reason for the rising integration of ADAS in vehicles was the stringent government regulations pertaining to the safety of vehicles in the European region. For example, in November 2019, it was mandated by EU that all motor vehicles, including commercial and passenger vehicles, are required to be equipped with DMS by mid-2022. Such initiatives are projected to result in the growth of the European ADAS market in the near future.

In conclusion, the requirement for ADAS in Europe is expected to grow in the coming years due to the rising concerns regarding safety of vehicles.

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How is Increasing Adoption of Electric Rickshaws Fuelling Growth of Indian Electric Rickshaw Motor and Controller Market?

In India, the most important factor fuelling the rise in the demand for electric rickshaw motors and controllers is the mushrooming number of electric rickshaws operating in the country on account of the soaring number of incentives and polices being implemented by the Indian government. The number of electric rickshaws running on the roads of the country increased by almost 600,000 between 2014 and 2018. Moreover, the total number of electric rickshaws in India was found to be more than 700,000 in 2018.

The other major factor responsible for the surge in the demand for electric rickshaw motors and controllers in India is the rising average operational life of electric rickshaws in the country. There has been a massive rise in the manufacturing of electric rickshaws in India by major organized multinational corporation (MNCs) over the last few years (especially since the Goods and Services Tax [GST] rollout). These electric rickshaws, owing to their superior build and quality, have a higher average life span (3.6 years) than the rickshaws manufactured by the unorganized and local companies (2.2 years).

Driven by the above-mentioned factors, the revenue generated from the sales of electric rickshaw motors and controllers in India is expected to be $59.8 million and $26.2 million, respectively, by 2024. The Indian electric rickshaw motor and controller market is predicted to attain a valuation of $86.0 million by 2024, with the Indian electric rickshaw motor market expected to advance at a CAGR of 15.1% and the Indian electric rickshaw controller market predicted to progress at a CAGR of 14.4% during the forecast period (2019–2024).

In India, Delhi recorded the highest adoption of electric rickshaw motors and controllers in 2018. This is mainly attributed to the large volume of sales of electric rickshaws in the city since 2013. In addition to this, the Delhi government announced in 2016 that it would provide a subsidy of $439.6 on the purchase of electric rickshaws. Due to this factor, the Indian electric rickshaw motor and controller market registered huge progress in Delhi during 2016–2018, which, in turn, created a huge demand for motors and controllers in the city during that period.

Therefore, the demand for electric rickshaw motors and controllers is certain to skyrocket in India over the next few years, owing to the rising adoption of electric rickshaws in the country because of the favorable government measures and the numerous advantages offered by these vehicles over the conventional rickshaws.

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What are Main Factors Responsible for Surge in Global Connected Motorcycle Market?

The rising penetration of sport and luxury bikes in many countries especially the developing nations of APAC and Latin America, Middle East and Africa (LAMEA) is one of the major factors powering the rise in the demand for connected motorcycles. The soaring per capita income and the resultant surge in the purchasing power of the people in the emerging economies across the world such as India and China is pushing the adoption of connected motorcycles.

Technological innovations in automation and big data and the increasing integration of artificial intelligence and internet of things (IoT) in motorcycles for improving road and passenger safety are the other major factors that will boost the popularity of connected motorcycles across the globe. Since the last few years, there has been a huge rise in the popularity of off-road and long-distance biking and this massively increased the probability of fatal motorcycle accidents. As a result, a majority of the motorcycle manufacturing companies have started developing motorcycles equipped with advanced rider-assistance systems and in-motorcycle connectivity devices.

Due to the above-mentioned factors, the global connected motorcycle market is predicted to observe unprecedented growth during the forecast period (2020–2030). The connected motorcycles can be serviced by either the original equipment manufacturers (OEMs) or third-party service providers. Of these, the OEMs-based services are predicted to record higher demand during the forecast period. This is mainly attributed to the fact that the OEMs efficiently analyze all the essential information like riding mode, speed, and parking location and rider behavior and are thus, able to provide personalized services and accurate information about the upcoming maintenance requirements. 

Globally, the Asia-Pacific (APAC) region would see the fastest rise in the adoption of motorcycles equipped with connected systems, during the forecast period. This is mainly ascribed to the rising popularity of these motorcycles in the region. The connected systems and features have already been introduced in the luxury and sport motorcycles and soon, will trickle down to the economy range motorcycles. Moreover, the rapid technological developments in rider assistance systems will propel the adoption of advanced connected systems in motorcycles, thereby fuelling the growth of the connected motorcycle market in the region in the coming years.

Hence, owing to the rising prevalence of road accidents and increasing adoption of advanced automated systems in motorcycles, the demand for connected motorcycles is set to skyrocket across the globe over the next few years.

Source: https://www.psmarketresearch.com/market-analysis/connected-motorcycle-market

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Mobile POS Terminals Market to Grow Due to Growing Trend of Digital Payments

P&S Intelligence published a new research report, titled, "mPOS Terminals Market: Global Industry Analysis and Forecast till 2030, with the rising number of people preferring cashless payments, the global mobile POS market, which generated $19.5 billion in 2019, is predicted to experience a 17.9% CAGR between 2020 and 2030 (forecast period). This is because mPOS terminals enable companies to receive contactless payments and speed up the checkout process.




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Till 2030, the retail category will continue generating the highest revenue in the mobile POS terminals market, as retailers are increasingly deploying such systems to help customers pay for stuff at any place in the store, which helps save the time otherwise wasted in long queues. For instance, in 2018, POS terminals were deployed in 350 stores across the U.S. by Walmart Inc.

The hardware bifurcation held larger share in the mobile POS terminals market during the historical period (2014–2019), because of the rapid increase in digital payments in the retail, food service, healthcare, hospitality, and various other industries, which creates a high requirement for different types of smartphone point-of-sale terminals.

Asia-Pacific (APAC) dominated the mobile POS terminals market in 2019, and it will keep contributing the highest revenue till 2030. This is ascribed to the advancing healthcare, retail, and hospitality industries in the region, as a result of the high rate of urbanization. Mobile point-of-sale terminals find widespread adoption in the retail industry, which is the largest in APAC.

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This market research report provides a comprehensive overview of the mPOS terminal market

• Historical and the present size of the mPOS terminal market
• Future potential of the market through its forecast for the period 2020– 2030
• Major factors driving the market and their impact during the short, medium, and long terms
• Market restraints and their impact during the short, medium, and long terms
• Recent trends and evolving opportunities for the market participants
• Historical and the present size of the market segments and understand their comparative future potential

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How is Development of Smart Cities Causing Boom of Global Light Sensor Market?

The increasing usage of consumer electronic devices is one of the major factors propelling the demand for light sensors across the world. In various consumer electronic devices such as smartphones and tablets, several features like automatic screen brightness control require the sensing of light. 1.4 billion smartphones were sold throughout the globe in 2019 and this number is expected to increase to 1.6 billion by 2040.

Owing to the mushrooming demand for these devices from the younger population, especially the millennials. Moreover, the soaring population in several countries will further boost the demand for customer electronic devices across the world.

Due to these factors, the global light sensor market attained a valuation of $1,456.2 million in 2019 and is predicted to advance at a CAGR of 9.5% during the forecast period (2020–2030). Light sensors are extensively used for proximity detection, ambient light sensing, RGB (red, green, and blue) color sensing, infrared radiation (IR) detection, and gesture recognition. 

Amongst these, the ambient light sensing applications are expected to record the highest use of light sensors during the forecast period. This would because of the rising utility of this function in the healthcare and automotive sectors around the world.

Light sensors are widely used in consumer electronics, industrial, automotive, healthcare, and entertainment sectors. Out of these sectors, the automotive sector is predicted to observe the highest growth in the usage of light sensors in the coming years. This is mainly attributed to the increasing incorporation of advanced driver assistance systems (ADAS) in automobiles, which require light sensors for park assist, light sensing, and several other applications.

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The light sensors produce the output in two forms — digital and analog. Of these, the light sensors equipped with digital output displays record higher demand, owing to their wide application in ADAS systems.

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